European Capital of Culture
Liverpool is a city in North West England, with an estimated population of 484,578 in 2016 within the City of Liverpool borough.
One of the UK’s largest economies
The Economy of Liverpool is one of the largest within the United Kingdom, sitting at the centre of one of the two core economies within the North West of England.
In 2006, the city’s GVA was £7,626 million, providing a per capita figure of £17,489, which was above the North West average. Liverpool’s economy has seen strong growth since the mid-1990s, with its GVA increasing 71.8% between 1995 and 2006 and employment increasing 12% between 1998 and 2006. GDP per capita was estimated to stand at £32,121 in 2014, and total GDP at £65.8 billion.
In common with much of the rest of the UK today, Liverpool’s economy is dominated by service sector industries, both public and private.
In 2007, over 60% of all employment in the city was in the public administration, education, health, banking, finance and insurance sectors. Over recent years there has also been significant growth in the knowledge economy of Liverpool with the establishment of the Liverpool Knowledge Quarter in sectors such as media and life sciences.
Liverpool’s rich architectural base has also helped the city become the second most filmed city in the UK outside London, including doubling for Chicago, London, Moscow, New York, Paris and Rome.
Liverpool ONE’s development
Spearheaded by the multi-billion-pound Liverpool ONE development, regeneration has continued through to the start of the early 2010s.
Some of the most significant redevelopment projects include new buildings in the Commercial District, the King’s Dock, Mann Island, the Lime Street Gateway, the Baltic Triangle, the RopeWalks, and the Edge Lane Gateway.
All projects could be eclipsed by the Liverpool Waters scheme, which if built will cost in the region of £5.5billion and be one of the largest megaprojects in the UK’s history. Liverpool Waters is a mixed-use development planned to contain one of Europe’s largest skyscraper clusters.
The project received outline planning permission in 2012, despite fierce opposition from such groups as UNESCO, which claimed that it would adversely affect Liverpool’s World Heritage status.
In June 2014, Prime Minister David Cameron launched the International Festival for Business in Liverpool, the world’s largest business event in 2014, and the largest in the UK since the Festival of Britain in 1951
pressJan 13, 2021
Post-Covid recovery in the region’s two biggest cities will be driven by Manchester’s economic expansion over the past five years and buoyant build-to-rent sector, and Liverpool’s busy port and associated industries, as well as momentum in life sciences, Avison Young said.